Media Release

Are you ready to make the LEAP?

“For the person who has decided that 2007 is the year when they are going to set up their own business, Limerick Institute of Technology’s new LEAP Programme which commences next March presents the perfect opportunity to give their new venture the platform for success.”

This is according to Donncha Hughes, Manager of the Enterprise Acceleration Centre following the launch of the LEAP – Limerick Enterprise Acceleration Platform – Programme at the recent meeting of the Governing Body of Limerick Institute of Technology. LEAP is an exciting new full time 12 month programme designed to assist people with innovative, export focused business ideas during the critical early stage of development of their business. He added:

“LEAP is a tailor made programme designed to support emerging entrepreneurs in their quest to establish high performance companies. Our starting point in February 2007 is to recruit ten individuals with ambition and drive to set up their own business. In March 2007, the LEAP participants will take up residence (free of charge) in the Enterprise Acceleration Centre and begin a full time twelve month programme that integrates a range of supports focused on strategic planning and practical business set-up to include; management training, business coaching, mentoring and consultancy. These supports work together to challenge and guide the participants during year long programme to develop an investor ready business plan while also challenging them to win the sales that will make their business profitable.”

Mr Hughes described the LEAP programme as a strategic initiative for the Enterprise Acceleration Centre in that it will create a pipeline of future clients for LIT’s impressive new start-up facility.

“Ireland Inc needs to create and develop new businesses to sustain our economic growth. Entrepreneurs require dedicated supports within a start-up enterprise focused environment to accelerate business success. The Enterprise Acceleration Centre is a critical dimension of Enterprise Ireland’s strategy to increase the number of High Potential Start-Ups (HPSUs) created each year in this region. A similar programme called Genesis has been running in Cork for the last ten years and has led to creation of over 120 successful companies in that time.”

He added that in addition to being based in the Enterprise Acceleration Centre and benefiting from the programme supports such as mentoring and training, LEAP participants will be attracted by the financial supports offered as part of the programme. 

“Firstly, there is no fee for LEAP and on commencement, a tax free sum of €550 per month is paid to participants by Limerick Institute of Technology during the 12 month programme equivalent to €6,600 per annum. Furthermore, additional funding may be provided to participants by Enterprise Ireland under the CORD Programme in the form of a total package of 50% of previous year’s verifiable (P60/P45) salary up to a maximum €38,000 for one year.”

Mr Hughes concluded that the LEAP programme is designed to facilitate high calibre candidates who possess enthusiasm, confidence and determination and who wish to commit full-time to get a business going.

“We are asking people who have an innovative idea for a product, technology or service with export potential to apply for LEAP if they are prepared to spend twelve months on a dedicated programme designed to support and challenge them to develop an investor ready business plan and build a sustainable, profitable business. Candidates will need to apply by 26th January, 2007. The application form and full details are available @ www.lit.ie/leap.” 

The Enterprise Acceleration Centre Manager will be available to meet with prospective candidates for a confidential review of their application prior to the closing date for applications.

Ends

Funding for development of the Enterprise Acceleration Centre based on campus at Limerick Institute of Technology was provided under the National Development Plan, 2000-2006 and part-financed by the European Regional Development Fund. Enterprise Ireland, the Irish state development agency, has invested in the Enterprise Acceleration Centre (EAC) as part of their Regional Development Programme.

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